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State Representative Michael Beard
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-8872
For more information contact: House GOP Communications 651-296-5520
LETTER TO THE EDITOR
Jobs Bill
To the editor:
As a member of the Small Business Caucus, I understand making Minnesota a more competitive place to do business will greatly improve the economy and the job market. Earlier this month Governor Pawlenty signed a bill into law that will promote private-sector job growth in our state. This bill passed through the legislature with broad bipartisan support. I was proud to support the bill and believe it will bring jobs back to Shakopee and Prior Lake and keep them here.
There are two key components of the bill:
1. It creates a 25 percent Angel Investor Tax Credit for investments in area start-ups and small businesses. The maximum refundable credit is $125,000 per investor and $1 million per business.
2. It expands the Research and Development Credit to include small businesses and increases funding by $11 million in FY10-11 and $20.4 million in FY12-13.
These new initiatives will support entrepreneurs in our community. It will free up capital for small businesses and spark new innovation and technology development. Promoting a small business-friendly environment in this state will revitalize the economy.
I firmly believe small business is the engine that drives the economy. Government needs to take a step back and empower our area businesses toward long-term growth and to bring on new employees. This bill is a strong step in the right direction.
Sincerely,
Mike Beard
State Representative
District 35A
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